CADJPY testing some older resistance

Interesting to see CADJPY hovering around the 115.60 level. It's been a pretty resilient pair lately, but this area, specifically between 115.60 and 115.80, acted as some notable resistance back in late May. We saw a pretty swift rejection there then.

My take is that if we get a decisive daily close above 115.80, it would invalidate that prior resistance zone and could open the door for a retest of the yearly highs. However, a failure to hold this level, especially if we dip back below 115.30, would suggest that prior resistance is still in play and we might see a pullback to the lower 115s or even 114s. Always good to remember that even strong trends need a breather.